Answer:
Journal Entries are as follows.
Explanation:
1. Cash $25,000 (Debit)
Common Stock $ 25,000 (credit)
2. Wages $10,000 (debit)
Cash $10,000 (credit)
3. Land $ 50,000 (debit)
Common Stock $50,000 (credit)
4. Dividend Declared $ 1000 (debit)
Dividend Payable $ 1000 ( credit)
And
Dividend Payable $ 1000 ( debit)
Cash $ 1000 (credit)
5. Cash $ 3000 (debit)
Long Term Investment $ 3000 (credit)
6. Cash $ 20,000 (debit)
Sales $ 20,000 ( credit)
7. Inventory $2000 (debit)
Cash $ 2000 (credit)
8. Investment $ 6000 ( debit)
Cash $ 6000 (credit)
9. Bonds Payable $ 10,000 (debit)
Discount $ 1000 (credit) ( if there's any)
Common Stock $ 9,000 ( credit ) ( in case of discount)
10. Notes Payable $ 10,000 (debit)
Interest on Notes Payable $ 1,000 (debit) ( suppose there's interest of $ 1000 on $ 10,000 Notes Payable)
Cash $ 11,000 (credit)
Answer:
A) True
Explanation:
The internal control structure deals with the rules, laws, procedures, practices that vary from company to company that are necessary to attain an organization's goals and objectives.
The substantive testing is an audit process aimed at checking the accuracy and reliability of the financial statements. To check if the financial statements are free from any errors, mistakes, fraud, etc. that can change users' decisions.
The financial statements should be relevant, reliable and finalize in all respects.
Therefore, a strong internal system will reduce the quantity of substantive testing required.
Answer: Air travel is a normal good and vacation travel by car is an inferior good
Explanation: What is a normal good and what is an inferior good.
Normal goods are those goods for which the demand rises as consumer income rises. While inferior goods are goods whose demand increases when consumer income decreases.
This therefore means that the demand of inferior goods is inversely related to the income of the consumer.
From the question above, we can say that car trips are inferior goods while the air travel are normal goods.
<span>The next step the organization must take in the marketing research process is "Collecting data".
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The Marketing research process refers to an arrangement of five stages which characterizes the errands to be expert in directing an advertising research study. These incorporate issue definition, building up a way to deal with issue, look into plan detailing, field work, information planning and investigation, and generating report and introduction.
Answer:
Description:
They underwrite, distribute, and design investment securities for corporations to help them raise capital.
Financial Institution: Investment banks
Description:
They are established by an employer to facilitate and organize employee retirement funds. They are asset pools that invest in securities that have a potential to give stable returns.
Financial Institution: Pension Funds
Description:
With the use of advanced investment techniques, these largely unregulated portfolios are invested in securities. The investment objective is to offset potential losses by investing in counterbalancing securities. They are open to only a select class of investors.
Financial Institution: Hedge Funds
